After all the gains last week, ethylene glycol futures rose strongly again on the 17th, setting a new high!
As of 15:00 on the 17th, the DCE MEG Futures 2001 contract closed at 5,071 yuan/ton, a significant increase of 224 yuan/ton compared with the settlement price on the previous trading day. tons, an increase of up to 4.62%. The main 2005 contract closed at 4,684 yuan/ton, an increase of 1.5% compared with the settlement price on the previous trading day.
In recent days, the market for ethylene glycol has continued to rise, and in polyester The circle is booming! In the final analysis, it lies in the support of tight supply and low inventory.
It is understood that due to weather reasons, the main ports in East China were closed continuously in the early stage. , coupled with the impact of factors such as delays in the commissioning of new units, the arrival of ethylene glycol has been delayed, and spot supply has become increasingly tight, which has exacerbated the continued decline in port inventories.
As of December 16, the inventory of ethylene glycol in the main port of East China was approximately 292,500 tons, a decrease of 31,600 tons from the 12th, and a decrease of 36,500 tons from the 9th. Among them, Zhangjiagang 135,000 tons, a decrease of 2,100 tons from the 12th; Ningbo 40,000 tons; Shanghai and Changshu 35,500 tons, a decrease of 11,500 tons from the 12th; Taicang 38,000 tons, a decrease of 23,000 tons from the 12th. It is not difficult to find that the current ethylene glycol inventory has not only refreshed the low level in the new year, but also dropped to the lowest inventory level in many years.
Here, the editor can’t help but think of polyester filament, upstream The raw material ethylene glycol is soaring. As the main force of downstream polyester, what is the recent situation of the polyester filament market?
In fact, since last week, the polyester filament market has An upward channel has been opened.
On the 12th, the quotation price of polyester yarn from a large factory in Tongxiang increased by 100-200 yuan/ton. The price increase of a large factory in Jiangsu also increased by 100 yuan/ton. The overall quotation price of polyester yarn from mainstream manufacturers increased. At 50-200 yuan/ton.
On the 13th, the price of polyester filament continued to rise. The POY quotation of a major mainstream factory in Tongxiang increased by 50 yuan/ton, and the polyester DTY of a large factory in Jiangsu increased by 100 yuan; POY rose. 50-100 yuan/ton, and the overall price increase of mainstream polyester manufacturers’ quotations is 50-100 yuan/ton.
Since last weekend, the polyester yarn quotations from a large factory in Zhejiang have continued to increase by about 50-100 yuan/ton, and the same is true for a large factory in Jiangsu; the overall increase in quotations from mainstream manufacturers has been 50-200 yuan/ton.
Under the favorable market situation of polyester filament, not only various industries Product prices have increased, and mainstream production and sales of polyester have also been concentrated from time to time. In addition, as the end of the year approaches, polyester manufacturers have intensified their maintenance efforts, which has greatly alleviated the inventory pressure of polyester manufacturers. According to statistics from China Silk City Network, as of December 17, the overall inventory of the polyester market has dropped to 9-18 days, which is close to the level of the same period last year; in terms of specific products, POY inventory has reached 3-7 days, and FDY inventory has reached 3-7 days. Around 7-12 days, while DTY inventory is around 15-20 days.
Of course, no matter Whether the price is rising or the inventory is falling, the reason why polyester filament can rise strongly this time is due to the support of downstream demand.
1. There may be an increase in stocking and purchasing in downstream markets before the end of the year
According to the routine Generally speaking, towards the end of the year, downstream weaving manufacturers and texturing manufacturers will more or less have a certain demand for raw material stocking. This year, due to factors such as the unsatisfactory textile market and the backlog of funds, there has been little bulk stocking in the downstream market. However, with the recent increase in polyester prices, the decrease in polyester inventory, and the increase in equipment maintenance, the downstream market is either driven by the mentality of buying up rather than buying down, or the demand for stocking increased before the year. In any case, the downstream market will The current purchasing enthusiasm has increased significantly compared with the previous period. According to the research and interviews of China Silk City Network, most weaving manufacturers expected to have 30 days of raw material stocking, which may now be extended to 33-34 days.
2. Market confidence has been boosted, and traders may engage in speculative operations
Encouraged by the good news in recent days, the market has been boosted to a certain extent. Confidence has also increased the speculative mentality of some traders or downstream manufacturers. For raw material traders, they took the opportunity to stock up on raw materials at the bottom before the year, and the price will rise after the year.Sell it again and earn the price difference, which is quite profitable. Although traders are more cautious in purchasing raw materials due to the weak textile market this year, there is bound to be a stockpiling of raw materials at the end of the year. Under this wave of expected increases, there are more or less certain purchasing actions.
No matter what, you need to do what you can! Downstream manufacturers or traders, when the textile market next year is unclear, must purchase raw materials based on their own needs and financial strength in order to play an important role. </p
